Online student loan scheme launched
All Class XII graduates who have passed out in 2014 with 50 % aggregate in English and best three subjects can avail interest free loan from 30th April to 20th May 2015 through the online website www. citzenshipservices.gov. bt. To be eligible for the loan scheme one must not be under the government scholarship holder and the institute to which the candidate is seeking admission must be recognized by the Ministry of Education.
Further the mode of study has to be full time and no distance education or online mode will be acceptable. In order to avail the loan in this scheme the candidate must produce a confirmation of the admission in the college or institute. In order to encourage candidates from the poor background preference will be given to the economically and disadvantages candidate who wants to peruse degree courses for better employability.
The loan scheme is to finance the education in Bhutan of 90% and in India with 10% or less. The loan will cover tuition fees and living expenses in the college. The candidate can apply online from their place of residence and does not have to come to Thimphu to apply for the loan. Preliminary short listing will be carried out by the Ministry of Education and the final selection will be done by the Student Loan Committee. Once the candidate is selected; the students will have to sign an agreement with Ministry of Education. The loan amount will not exceed Nu. 3.00,000 per annum . However subsequent release of fees and allowance will be subject to students’ academic performance.
The scheme was launched by the Cabinet Secretary; Kinzang Wangdi last Friday in presence of the Education Ministry officials.The loan scheme is part of Economic Stimulus Plan.
In a message for the launch of the scheme the Prime Minister said “Pursuing higher education should not be a luxury for the privileged only, but for all our Bhutanese students. With this in mind, our government has instituted the student loan scheme for tertiary education which provides an opportunity to students from disadvantaged background to self fund their tertiary education.
The system being launched today is sensitive to the realities of such students living in far flung corners of our country. It enables them to avail the opportunity without having to come to Thimphu as it is available from any access point with internet connection.”
However some of the students and parents with whom BT spoke raise concern over the scheme as due to unemployment problem in Bhutan it may not be too wise to take loans as getting jobs after the completion of the studies will be more difficult. It will definitely put more burdens on the parents and family members. Some of the students from the economically disadvantages background welcomed the scheme.